Marizyme Signs LOI With Chromocell to Acquire or License Assets
FORT COLLINS, Colo., March 18, 2019 (Newswire.com) - Marizyme, Inc. (“Marizyme” or the “Company”), a publicly traded (OTC: MRZM) company focusing on acquiring late-stage drug assets for use in the acute care space and related areas, announced today that they signed a Letter of Intent to evaluate the licensing or acquisition of certain non-opiate pain relief and rare disease assets from Chromocell Corporation (“Chromocell”), pending further due diligence from both companies.
Mr. James Sapirstein, Executive Chairman of Marizyme, Inc., commented: “This opportunity is a perfect fit with Marizyme’s strategic direction. We are very pleased to work with Chromocell and proceed with the due diligence process.”
The treatment of acute and chronic pain remains a significant challenge, due to insufficient efficacy, negative side effects and abuse potential of currently available therapeutics. Chromocell’s discovery and development programs are focused on the development of breakthrough therapeutics for neuropathic and nociceptive pain. Chromocell’s lead candidate CC8464 has completed Phase 1 clinical trials in the United States.
Mr. Christian Kopfli, Chief Executive Officer of Chromocell, Inc. said: “Evaluating a partnership with Marizyme to bring our products to market is an exciting development for our company. Non-opiate analgesics are critical for treating patients with acute and chronic pain.”
About Marizyme, Inc.
Marizyme, Inc. is a development-stage company dedicated to the commercialization of therapies that address the urgent need of higher mortality and costs in the acute care space. Specifically, Marizyme will focus its efforts on developing treatments for disease caused by thrombus (stroke, acute myocardial infarctions or AMIs and deep vein thrombosis or DVTs), and chronic wound care conditions. These conditions combine for over $26 billion dollars in potential market opportunity and are responsible for sending over millions of patients to the hospital every year in the U.S. alone.
The Company’s first product candidates are derived from Krillase™ Technology, a broad intellectual property portfolio around a novel system of proteolytic enzymes. Marizyme completed the acquisition of these assets and intends to develop several product candidates that will address unmet medical needs in the acute care setting. For more information about the Company, visit www.marizyme.com.
Chromocell is a life sciences company which improves consumer products and patient lives through breakthrough science and technologies. Chromocell is focused on the discovery and development of therapeutics and flavors through the use of pioneering Chromovert® technology. Chromocell’s therapeutics pipeline is currently focused on analgesics and rare diseases, where Chromovert® technology has proven highly effective in the rapid identification of potential new drug candidates.
This press release contains certain forward-looking statements, including those relating to the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. The Company has made every reasonable effort to ensure the information and assumptions on which these statements are based are current, reasonable and complete. However, a variety of factors, many of which are beyond the Company’s control, affect the Company’s operations, performance, business strategy and results and there can be no assurances that the Company’s actual results will not differ materially from those indicated herein. Additional written and oral forward-looking statements may be made by the Company from time to time. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor and Media Contact
Michael K. Handley
Chief Executive Officer
Source: Marizyme, Inc.
Categories: Pharmaceuticals and Biotech